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not reach a deal your taxes could rise and sharp spending cuts would go into effect as well possibly triggering a recession. chuck todd is nbc's political director and chief white house correspondent. chuck, good morning to you. >> good morning, savannah. >> the goal here is to get a deal that reduces the deficit, and the battle lines have been pretty clear right now. the president campaigned rolling back the tax breaks for the highest earnings and republicans argued spending cuts are the way to get the deficit under control. are we starting to see a softening of those positions on both sides? >> reporter: here's what there's agreement on. both sides, both parties agree that the wealthiest have to pay more, and the question now and the sticking point at this stage is how do you go about making the wealthiest pay more? do you do it by raising the tax rates? that's what president obama wants to do. wants to raise the tax freights 35% where they are now up to where they were during the clinton years at 39% what. republicans are arguing is you don't have to do that. you can get all of th
a way to avoid that so called fiscal cliff that could raise your taxes and throw the economy back into recession. kristen welker is in our washington bureau. good morning. >> reporter: president obama is also facing a number of challenges overseas, as you say, from the unrest in the middle east to the continuing fallout over the attack on the u.s. consulate in benghazi. but the fiscal cliff looms large. president obama returning from a post-thanksgiving round of golf, but off the links, the clock is ticking. lawmakers need to hammer out a deal to prevent the so called fiscal cliff. deep spending cuts and tax hikes set to take effect next year. >> i think we're all aware that we have some urgent business to do. >> reporter: after a meeting at the white house last week, congressional leaders struck a rare tone of bipartisanship. >> we had a very constructive meeting with the president. >> we feel very comfortable with each other. >> reporter: but a major sticking point remains -- taxes. president obama wants to let the bush era tax cuts expire for the wealthiest americans. many repu
and khoe of bataway and has written an op-ed, tax on the wealthy. i'd like to ask you about black friday and cyber monday. numbers robust about any standard what. is it telling you about how consume remembers feeling about the overall economy? >> consumers are feeling reasonably confident. the economy has been coming back for a year and residential housing is coming back, so they are feeling better. >> when you say they are feeling reasonably confident, what are big investors, guys like you? when you start looking forward to the economy in 2013, how confident are you? >> well, i'm confident. i can't speak for others, but i -- we buy stocks almost every day, so i -- but i'm confident about the american economy over the decades to come, and we'll have ups and downs and i can't really predict them. one thing i'm sure of is america is a winner. >> let me read you something that the ceo of honeywell said on "meet the press" on sunday and he said right now i'm not all that bullish. in fact, i'd say there's a great uncertainty that's just hanging over the entire economy because we're not confid
a single winner could walk away with a cash prize worth $327 million before taxes. >> there you go. good luck. >> i would take my entire family on a cruise around the world. >> a sports car for me. >> aston martin. >> i'll pinch myself. >> reporter: and it's not just the lucky winners who win big. $1 of every $2 powerball ticket goes to the state covering lottery overhead and supporting programs like education. the federal government also hits the jackpot, taking a quarter of the winner's earnings in taxes and, yes, there's more. states and cities can take an additional 5% to 12%. a new york city winner would pay the highest taxes, but lucky winners in eight states may no state taxes on winnings at all. until today the biggest powerball on record was $365 million won by eight nebraska meat packers in 2006. >> we process hams and corn beef? they went from corn beef to caviar overnight and so could you. but jeremy elson, a senior researcher from microsoft says it's okay to dream, but don't quit your day job just yet. >> mathematically it's not a good bet to buy a lottery ticket, even thoug
Search Results 0 to 3 of about 4